Thursday, September 4, 2008

U.S. NAVY P-3 ORIONS TO RECEIVE LOCKHEED MARTIN

Marietta, Ga., September 4th, 2008 -- Lockheed Martin [NYSE: LMT] has received a $129.3 million contract to build a total of 13 new outer wing sets for the U.S. Navy’sP-3 Orion fleet. The all new production outer wings will be delivered to the Navy beginning in early 2010 for installation on selected aircraft.

“Lockheed Martin has a long, proud history of providing P-3 sustainment and support to the U.S. Navy,” said Ray Burick, Lockheed Martin vice president of P-3/S-3 programs. “This new wing order is the next step in that partnership.”

Lockheed Martin’s P-3 wing production line opened in March 2008 and is the cornerstone of the company’s P-3 Aircraft Service Life Extension Program (ASLEP). Lockheed Martin currently has the Royal Norwegian Air Force and the U.S. Customs and Border Protection Service under contract for P-3 Life Extension Kits, and has submitted a response to the Canadian Forces under a Request For Proposal. A proposal for the Taiwan P-3 fleet is also in work.

“As the P-3 Orion original equipment manufacturer, Lockheed Martin is uniquely qualified to sustain and support the world’s P-3 leets,” said Burick. “Aside from the operators of these aircraft, nobody knows the P-3 better than Lockheed Martin.”

The complete ASLEP solution replaces the aircraft outer wings, center wing lower section and horizontal stabilizers with new production components. All fatigue-life limiting structures on the aircraft are replaced with enhanced-design components and improved corrosion-resistant materials that will greatly reduce maintenance costs over the aircraft’s service life.

“Lockheed Martin is committed to providing a range of solutions that enables operational effectiveness for P-3 Orion operators worldwide for decades to come,” said Burick. “We’re fully prepared to support the U.S. Navy and all our customers in their future maritime surveillance activities.”